Dollar rises on worries about global economy

AP News
Posted: Jun 08, 2012 4:29 PM
Dollar rises on worries about global economy

Concerns about the global economy pushed the dollar higher against most other major currencies Friday.

Spain's deputy prime minister said the country could decide this month on whether it will ask for a bailout for its troubled banking sector. That would make Spain the fourth country of the 17 that use the euro to seek financial aid since Europe's debt crisis began.

The euro fell to $1.2507 late Friday from $1.2601 late Thursday. The British pound fell to $1.5462 from $1.5553.

The dollar is also rising a day after Federal Reserve Chairman Ben Bernanke signaled that there are no imminent plans to launch another round of bond-purchasing to help the economy.

In other trading Friday, the dollar rose to 0.9610 Swiss franc from 0.9532 Swiss franc and to 1.0293 Canadian dollar from 1.0247 Canadian dollar.

The dollar fell to 79.48 Japanese yen from 79.68 yen.